News

SpeedFerries, which ran into difficulties last Thursday (6 November) when the Boulogne Port Authority seized its only vessel, SpeedOne, in a dispute over unpaid taxes and fees has been put into administration.

Talks were held between the two sides to try to resolve the impasse but it has been announced the company has been placed in administration at the request of the firm's directors.

Joint administrators Angela Swarbrick and Tom Burton, of Ernst and Young LLP, said they were exploring the possibility of selling the business as a going concern.

Ms Swarbrick said: "SpeedFerries Limited operates in a highly competitive industry and has been affected by a general downturn in the industry related to a reduction in customer travel over recent months and rising fuel costs."

SpeedFerries operated just one route between Dover and Boulogne and employed around 150 people.